Mirae Asset Global Investments Co. Ltd. Sells 228,288 Shares of Myriad Genetics, Inc. (NASDAQ:MYGN)

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Myriad Genetics, Inc. (NASDAQ:MYGN) by 55.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 185,483 shares of the company’s stock after selling 228,288 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Myriad Genetics were worth $3,550,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Myriad Genetics by 1.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 33,334 shares of the company’s stock valued at $606,000 after buying an additional 509 shares during the period. Royal Bank of Canada grew its position in Myriad Genetics by 29.0% during the third quarter. Royal Bank of Canada now owns 2,339 shares of the company’s stock valued at $44,000 after buying an additional 526 shares during the period. US Bancorp DE lifted its holdings in Myriad Genetics by 14.6% during the first quarter. US Bancorp DE now owns 4,243 shares of the company’s stock valued at $108,000 after purchasing an additional 541 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Myriad Genetics by 10.0% during the second quarter. Ameritas Investment Partners Inc. now owns 6,671 shares of the company’s stock valued at $155,000 after purchasing an additional 605 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Myriad Genetics by 21.9% during the third quarter. Tower Research Capital LLC TRC now owns 5,045 shares of the company’s stock valued at $81,000 after purchasing an additional 905 shares during the last quarter. Institutional investors own 99.02% of the company’s stock.

Myriad Genetics Trading Down 1.3 %

Shares of Myriad Genetics stock opened at $18.92 on Wednesday. Myriad Genetics, Inc. has a 12-month low of $13.82 and a 12-month high of $24.21. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -5.91 and a beta of 1.95. The company has a current ratio of 2.01, a quick ratio of 1.87 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $21.75 and its 200-day moving average price is $19.47.

Myriad Genetics (NASDAQ:MYGN) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Myriad Genetics had a negative net margin of 34.96% and a negative return on equity of 8.03%. The firm had revenue of $196.60 million for the quarter, compared to the consensus estimate of $194.80 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts expect that Myriad Genetics, Inc. will post -0.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MYGN has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on shares of Myriad Genetics in a report on Tuesday, December 19th. They set an “equal weight” rating and a $20.00 price objective on the stock. The Goldman Sachs Group upped their price objective on shares of Myriad Genetics from $28.00 to $31.00 and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Piper Sandler initiated coverage on shares of Myriad Genetics in a report on Thursday, December 21st. They set a “neutral” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $23.17.

Myriad Genetics Company Profile

Myriad Genetics, Inc, a genetic testing and precision medicine company, develops genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and pharmacogenomics. It also provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, and metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer.